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Conn Carroll: How the Fed is creating a new feudalism

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Over a decade ago in 2001, the Federal Reserve planted the seeds of the 2008 financial crisis by lowering its target for the federal funds rate from 6.25 percent to 1.75 percent. Since this interest rate is a benchmark number used throughout financial markets, many first-time homebuyers were able to enter the housing market thanks in part to both new looser lending standards and the record-low...

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